Analyst: Bitcoin fundamentals remain bullish, long-term holders continue to increase holdings to form a "buffer" support

Odaily Planet Daily News CryptoQuant analyst Axel Adler Jr wrote, "Although the price of Bitcoin has briefly pulled back to $103,000-104,000, the fundamentals remain bullish: trading platform reserves continue to decline, corporate purchases continue to put pressure on supply, and long-term holders continue to increase their holdings, forming a "buffer" below the market. At the same time, the macro situation presents mixed signals: the slowdown in PCE inflation has alleviated some of the Fed's policy pressure, but tariff uncertainty and rising yields have reinforced the "risk aversion" atmosphere and suppressed the market's willingness to grow. The baseline scenario for next week is that the price of Bitcoin will consolidate between $103,000 and $110,000 until new drivers emerge. If trading volume increases and momentum breaks through 20%, accompanied by a breakout above $110,000, it can be confirmed that the market is ready to test the $115,000-120,000 range. Conversely, if net inflows turn positive and prices fall below $100,000, the market will likely test the $115,000-120,000 range. The dollar could signal a deeper pullback.”